Bitcoin More Attractive Than Gold In The Long-Term: JPMorgan

ETF outflows and futures contracts liquidations have dramatically weighed on crypto markets recently, but as JPMorgan's Nikolaos Panigirtzoglou writes in his latest 'Flows & Liquidity' note, the large outperformance of gold vs. bitcoin since last October coupled with the sharp rise in gold volatility has left bitcoin looking even more attractive compared to gold over the long term.

Crypto markets came under further pressure over the past week as risk assets and in particular tech came under pressure and as gold and silver, the other perceived hedges to a catastrophic scenario, saw a sharp correction. Solana’s Step Finance suffered a $26mn hack, further denting investors confidence in crypto markets.